Biosensors shares fall after CB Medical pares stake
Move by major shareholder deals blow to talk of takeover
SHARES in medical devices maker Biosensors International Group lost seven cents to close at 86.5 cents yesterday after substantial shareholder CB Medical Holdings sold off nearly 40 million shares.
The counter slipped to a low of 83 cents in trading yesterday before finally closing at 86.5 cents, with 35.84 million shares changing hands.
Owned by China-based fund Citic Private Equity, CB Medical divested some 39.5 million shares at an average price of US$0.84 per share. This cuts its stake in Biosensors from 21.78 per cent to 19.46 per cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Airbus called for compensation to take on money-losing Spirit operations: sources
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Booking says room reservations to slow amid Middle-East conflict
Deutsche Bank unveils wealth targets after hiring push in Asia
HSBC asked by US$890 billion investor group to set new energy goal
Stocks to watch: DBS, KIT, Clint, Elite Commercial Reit